GOLD holding at channel support
GOLD update: please look at the rising channel for gold over the past few weeks (contained in purple lines).
Last week, gold hit the mid-channel line and was promptly rebuffed but this morning has held at the lower support trendline.
If it holds and continues higher, I expect Gold to attack the September 4 high (but fail to breach). If a breach does fail, I believe this will solidify the wave B prediction and Gold will fall strongly over the coming weeks near the $1,400 level (and hopefully hold).
Comments appreciated.
Benji Miller
Last week, gold hit the mid-channel line and was promptly rebuffed but this morning has held at the lower support trendline.
If it holds and continues higher, I expect Gold to attack the September 4 high (but fail to breach). If a breach does fail, I believe this will solidify the wave B prediction and Gold will fall strongly over the coming weeks near the $1,400 level (and hopefully hold).
Comments appreciated.
Benji Miller
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